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STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Sales, net $ 188,382,454 $ 81,862,453 $ 41,797,179
Cost of sales:      
Total cost of sales 93,029,933 44,854,100 27,659,223
Gross profit 95,352,521 37,008,353 14,137,956
Operating expenses:      
Sales and marketing 4,477,651 4,061,904 4,217,863
Research and development 901,381 574,527 516,095
General and administrative 17,378,301 8,301,169 6,432,158
Total operating expenses 22,757,333 12,937,600 11,166,116
Income from operations 72,595,188 24,070,753 2,971,840
Gain on forgiveness of PPP loan 1,377,652    
Other income - TIA 425,158    
Interest and other income 779,996 2,262,758 351,166
Interest expense (227,183) (260,264) (166,897)
Income before income taxes 74,950,811 26,073,247 3,156,109
Provision for income taxes 18,886,570 1,850,234 7,875
Net income 56,064,241 24,223,013 3,148,234
Preferred Stock dividend requirements (241,703) (573,868) (702,618)
Deemed contribution on extinguishment of preferred stock   2,975,708  
Net income applicable to common shareholders $ 55,822,538 $ 26,624,853 $ 2,445,616
Basic earnings per share $ 1.65 $ 0.80 $ 0.07
Diluted earnings per share $ 1.63 $ 0.80 $ 0.07
Weighted average common shares outstanding:      
Basic (in shares) 33,870,819 33,169,307 32,672,475
Diluted (in shares) 34,244,699 33,300,654 32,672,475
Costs of manufactured product      
Cost of sales:      
Total cost of sales $ 81,711,840 $ 39,377,794 $ 24,209,401
Royalty expense to shareholder      
Cost of sales:      
Total cost of sales $ 11,318,093 $ 5,476,306 $ 3,449,822